Gold futures edged lower Wednesday, logging their seventh loss in eight sessions as the U.S. dollar traded near a 14-year high.
Gold for December delivery dipped 60 cents, or less than 0.1%, to settle at $1,223.90 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is trying to stabilize despite continued headwinds from rising real rates and a stronger dollar," Reuters quoted Ole Hansen, Saxo Bank’s head of commodity research.
Gold futures ranged from a low of $1,221 to a high of $1,233.10. They climbed 0.2% on Tuesday after ending Monday at their lowest point since June 2.
Lower for the third time in four sessions, silver for December delivery lost 11.6 cents, or 0.7%, to settle at $16.927 an ounce. Silver futures traded between $16.85 and $17.24. In the previous session, they rose 0.9%.
In PGM futures on Wednesday:
January platinum added $11.80, or 1.3%, to $946.50 an ounce, ranging from $926.20 to $949.90.
- Palladium for December delivery gained $12.85, or 1.8%, to $718.80 an ounce, trading between $690.10 and $719.55.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Tuesday PM to Wednesday PM:
- Gold added $2.25, or 0.2%, to $1,229.20 an ounce.
- Silver dropped a nickel, or 0.3%, to $16.95 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Coin Sales in 2016
United States Mint bullion sales registered advances of 13,000 ounces in American Gold Eagles and 2,000 ounces in American Gold Buffalos.
Gold and silver sales so far this week — at 44,500 ounces and 1,387,000 ounces, respectively — are already the highest for a week since the one ended Oct. 7 when they were the best since January.
Below is a sales breakdown of U.S. Mint bullion coins with columns listing the number of bullion coins sold during varying periods Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Wednesday Sales||Last Week||This Week||Oct Sales||Nov Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins*||–||20,000|
|$50 American Eagle 1 Oz Gold Coins||10,500||19,000||31,000||100,500||66,500||732,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||0||8,000||4,000||68,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||6,000||0||16,000||10,000||142,000|
|$5 American Eagle 1/10 Oz Gold Coins||25,000||25,000||45,000||75,000||75,000||850,000|
|$50 American Buffalo 1 Oz Gold Coins||2,000||4,000||9,000||28,500||17,500||195,000|
|$1 American Eagle 1 Oz Silver Coins||0||425,000||1,250,000||3,825,000||1,895,000||36,295,500|
|2016 Shawnee 5 Oz Silver Coins*||–||105,000|
|2016 Cumberland Gap 5 Oz Silver Coins*||–||75,000|
|2016 Harpers Ferry 5 Oz Silver Coins||0||0||300||200||300||36,800|
|2016 Theodore Roosevelt 5 Oz Silver Coins||0||0||2,300||3,100||2,600||35,200|
|2016 Fort Moultrie 5 Oz Silver Coins||0||0||24,800||3,100||24,800||24,800|